Peruvian opposition lawmakers filed a censure motion to oust the government’s economy minister, underscoring political tensions as the country rides out its deepest economic plunge in decades due to the coronavirus pandemic.
Brazil’s economy shrank in the second quarter by the most on record as anti-coronavirus lockdown measures slammed activity in almost every sector, dragging Latin America’s largest economy back to the size it was in 2009.
Peru’s economy contracted 18.06% in June versus the same period a year earlier, the government of president Martin Vizcarra said on Sunday, the fourth straight month of contraction due to the impact of the novel coronavirus pandemic.
The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.
A full recovery of the Mexican economy to pre-pandemic levels could be reached in one to two years so long as no new coronavirus outbreaks strike, a senior official said
The U.S. economy suffered its biggest blow since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in new cases of coronavirus.
Argentina's economic activity experienced an annual 20,6% fall in May moderating the collapse in April, following the quarantine measures implemented because of the pandemic. The data was released this week by Indec, the official stats office, and shows that economic activity in May actually recovered 10% compared to April.
Argentina's economy is expected to contract by 12% in 2020, a monthly central bank poll of analysts showed on Friday, worse than the previous estimate of a 9.4% decline, as output is ravaged by measures to tame the coronavirus outbreak.
Middle classes in Chile are going through a complicated moment, with many slipping into poverty as long-established inequality was increased by the coronavirus pandemic and overall slowdown of the economy.
Chile's economic activity fell by 15.3% in May from the same month a year ago, the central bank said on Wednesday, hitting yet another historic low as measures to contain the spread of the coronavirus left many out of work and businesses shuttered.